Tenchip said Thursday it was awarded two contracts worth a combined value of approximately $1.23 billion by the Ghanian subsidiary of Tullow Oil for the so-called Ten project. The contracts call for the engineering, fabrication and installation of equipment used to bring hydrocarbons from the sea floor.
Installation offshore should be completed during the second half of 2016. Water depths associated with the project can reach 6,500 feet.
The project is in the Tano contract area, about 18 miles west of the Jubilee field, which Tullow estimates could produce more than 125,000 barrels of oil per day.
The Ten project should deliver its first oil by 2016. At its peak, it is expected to produce about 80,000 bpd.
Oil companies ranging from Italy's Eni to U.S. explorer Hess Corp. have announced recent successes off Ghana. French supermajor Total said a discovery off Ivory Coast might be connected to the basin housing Jubilee.